Rewind: Big week for big media

So what a week, huh? We found out lots of things inside the media biz and there’s still a lot hanging out there that remains cloudy. Biggest? Some of The Blog’s favorite business news might be a changin’ … Because we’re not clairvoyants here at The Blog, let’s take stock of what we do know. To recap …

  1. Journal up for grabs? Rupert Murdoch has long wanted to own The Wall Street Journal, but this week he put his money where his mouth is and bid an astonishing $5 billion to buy The Journal’s parent company, Dow Jones & Company. Murdoch said in The New York Times that he doesn’t like the way the Journal has scaled back internationally, and that NewsCorp would “be coming from a different point of view to develop a paper that provides management and journalists more resources and more investment.” Oh and he’s “sometimes frustrated by the long stories.” Jury’s out on whether the Bancroft family, which controls the voting shares, will take the offer. So far, they are resisting.
  2. Taking on Google: The New York Post broke a story today (and now everyone’s on it) that Microsoft has once again approached Yahoo!, the Silicon Valley search portal and content hub, to negotiate a friendly takeover by Microsoft. The idea would be to take on search engine (and nearly world-dominating) Google. My colleague Vindu Goel wonders whether this raises antitrust questions …
  3. Biz biggie bid, No. 2: Looks like Canada’s Thomson Corp. has bid on Reuters in an effort to bolster its own financial information franchise. Boy, oh boy, business journalism outfits sure are heating up, eh? Follow the money, folks. Reuters shares are way up on the news. Way.
  4. The right man for the job: Knight Ridder alum Clark Hoyt was named the new public editor at The New York Times, an organization his KR Washington Bureau bested on raising doubts about the rationale for war in Iraq, namely that Saddam Hussein had weapons of mass destruction (which, um, it turns out, he did not). Kudos to Clark, one of the most-gifted journalists that The Blog has had the pleasure to see in action. A true pro.
  5. It’s not RedEye, but … The kids in the tower are considering a downloadable evening edition of the Chicago Tribune, and apparently the idea came from a conversation after a news meeting. That’s better than “how long will it be?” any day. The Blog commends impromptu innovation. Now let’s see if they can make it work … after all, we don’t stand on our praise too long here at The Blog.
  6. Blowing up the culture: They’re doing a major reinvention at The Orlando Sentinel, focusing more on online and cutting 24 newsrooms jobs in the process. The reinvention headline has VisualEditors discussing change.
  7. Those swine, why didn’t we think of this? They’re having some fun in Philly with the circulation increase. They ought to be hog-tied, or something. Much of the rest of the nation had little to celebrate, circulation-wise at least.
  8. Shout to take us out: Speaking of fun, The Blog shouts out to Alan, who shouted out to Robert K. on Best Front Design.

That’s all we’ve got. But there’s always next week … when somebody will be buying somebody else, or at least trying. Remember what The Blog says in these uncertain times: No place is safe.

-30-

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2 responses to “Rewind: Big week for big media

  1. Chris Courtney

    RedEye… one work Mr. Mansfield. One word. 🙂

    Carry on…

  2. Matt Mansfield

    RedEye corrected in the copy now … And that was my attempt at kudos to RedEye, by the way:)

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